News Release

Names in the News: Gina Raimondo2015-07-01

Rhode Island Gov. Gina Raimondo has come under fire recently for her support of pension overhaul efforts in 2011, which may have cost the state $1.4 billion. The effort included shifting pension savings into ''hedge funds, private equity, venture capital and other higher-risk 'alternative investments,''' according to the International Business Times.

A recent investigation of the pension overhaul prompted the Institute to examine the campaign contributions to Raimondo, who is a former venture capitalist and was the state treasurer from 2010 to 2014. It turns out that the securities and investment industry in Rhode Island also invested heavily in her -- in an unusually large percentage compared to other candidates in the Ocean State.